Samsung Electronics’ share in the global DRAM market slipped to its lowest level in eight years amid worsened business conditions for memory chip makers due to the global economic recession.

According to Eugene Investment and Securities Company and market research firm IDC on Tuesday, the global DRAM market was valued at nearly 18 billion dollars in the third quarter, down more than 29 percent from the second quarter.

Samsung Electronics, which ranks number one in terms of manufacturing of such memory chips, saw its DRAM sales slip nearly 34 percent from the second quarter to stand at roughly seven-point-four billion dollars in the third quarter.

The drop in sales reflected a two-point-seven percentage point retreat in the electronics giant’s market share to 41 percent, a level Eugene said was the lowest to be posted since the third quarter of 2014.

Meanwhile, SK hynix and Micron saw their market shares jump slightly from the second quarter to stand at 29-and-a-half percent and 24-point-two percent, respectively.